Funding obtained from Kalaari Capital and Michael & Susan Dell Foundation to Boost Student Learning and Employability
FinTech BizNews Service
Mumbai, 18 July 2024: byteXL India’s rapidly growing edtech platform focused on revolutionizing engineering education, has secured $5.9 million in Series A funding. The round was led by Kalaari Capital as lead investor, along with the Michael and Susan Dell Foundation. This investment highlights byteXL's mission to provide high-quality, affordable tech skills to engineering students in tier II and tier III cities across India and acknowledges the company's impressive growth over the past four years.
The new capital will be used for team expansion, product development, the introduction of new digital tools and technologies, and outreach to more colleges and universities across the country.
Since its inception, byteXL has partnered with over 26 colleges and universities across India, training more than a lakh student in various software technologies including programming, emerging technologies like cybersecurity, full stack development, cloud technologies etc. These efforts have led to higher placement rates and increased student intake for their partner institutions. Recently, byteXL collaborated with Microsoft to introduce a new B.Tech CSE course in Artificial Intelligence and Machine Learning, designed to meet current industry demands.
Karun Tadepalli, CEO and Co-Founder of byteXL, stated, “At byteXL, we're not just teaching coding; we're shaping futures and driving innovation in tech education across India. This funding will boost our confidence in empowering engineers of tomorrow with cutting-edge skills and technologies and help us bridge the gap between academia and industry at a faster pace.”
Sampath P, Partner at Kalaari Capital, said, “Engineering schools in India and other markets are evolving to maintain high standards of curriculum, pedagogy and industry readiness in technology disciplines that are rapidly evolving. This need, accelerated by rapid progress in AI, is a critical problem to solve to enable students to succeed in the next generation of technology jobs. ByteXL is committed to being a true partner for universities and colleges, with operational expertise, high-quality educators and an interactive digital learning platform. Karun, Charan and team have spent a long time understanding the core needs of each stakeholder involved in the delivery of technology and curriculum and are deeply committed to improving learning outcomes and the quality of tech talent in India. We are excited to partner with them on this mission.”
Sanjay Modi, Senior Director, Michael & Susan Dell Foundation adds “byteXL is transforming the teaching and learning of engineering colleges in India. By bridging the gap between academia and industry, it is set to make a significant impact on the lives of students in tier II and tier III cities. This investment is aligned with our objectives of enhancing quality education and bridging the gap between academic learning and industry demands.”
